Roth IRA Ownership Jumps 21%, ICI Says

More U.S. households are using Roth Individual Retirement Accounts (IRAs) as an investment vehicle than a year ago, according to a report released by Investment Company Institute.

The Washington-based trade associations annual report on IRA ownership revealed that Roth IRA ownership among American households rose 21% to 16 million as of June. In addition, the number of households that held traditional IRAs climbed to an estimated 36.4 million, up from 35.7 million in the year-ago period.